Integrated Gas overview

Key milestones

Portfolio events

• In February, we completed the acquisition of First Utility, a leading independent UK household energy and broadband provider.
• In March, we completed the acquisition of a 43.8% interest in Silicon Ranch Corporation, a developer, owner and operator of solar energy assets in the USA.
• In July, with our partners, we completed the dilution of interests in LNG Canada to Petronas. As a result, our interest in LNG Canada was reduced from 50% to 40%.
• In August, we acquired ENI’s interest in the North Coast Marine Area (NCMA) block offshore Trinidad and Tobago, increasing our interest from 63.2% to 80.5%.
• In December, we acquired Total’s 26% interest in the Hazira LNG and Port venture, increasing our interest from 74% to 100%.
• In December, we formed 50/50 joint ventures with EDF Renewables and EDP Renewables to build wind farms off the coast of New Jersey and Massachusetts, respectively, in the USA.

In February 2019, we acquired sonnen, a provider of smart energy storage systems and innovative energy services for households, and Limejump, a UK-based digital energy-technology company.

Major milestones

• In June, the final investment decision was taken on the Borssele III and IV offshore wind farm projects in the Netherlands (Shell interest 20%).
• In October, the final investment decision was taken on LNG Canada (Shell interest 40%). Construction has started and first LNG is expected before the middle of the next decade.
• In December, wells were opened at the Prelude floating liquefied natural gas (FLNG) facility in Australia (Shell interest 67.5%) and gas and condensate are produced and moved through the facility. Once this has concluded, the facility will be stabilised for reliable production of LNG and LPG.

Divestments

• In Greece, we sold our 49% interests in Attiki Gas Supply Company S.A. and Attiki Natural Gas Distribution Company S.A.
• In India, we reduced our interest in Mahanagar Gas Limited from 32.5% to 10%.
• In Malaysia, we sold our 15% interest in Malaysia LNG Tiga Sdn Bhd to the Sarawak State Financial Secretary.
• In New Zealand, we sold our shares in Shell entities to OMV.
• In Thailand, we sold our 22.2% interest in the offshore Bongkot field and adjoining acreage to PTT Exploration & Production Public Company Limited.

In November 2018, we agreed to sell our interest in the undeveloped Sunrise gas field in the Timor Sea (Shell interest 26.6%) to the government of Timor-Leste. The transaction is pending regulatory approval and expected to close in the first half of 2019.

Integrated Gas earnings and cash flow [A]

$ billion

[A] Excluding identified items.

Integrated Gas production

mboe/d

mtpa